Singapore-based venture capital firm, Foresight Ventures, is now accepting applications for the second phase of its Web3 accelerator program. The company has also pledged an additional $10 million towards the initiative, which will focus on nurturing Web3 projects in emerging ecosystems. The accelerator initially launched its Web3-based program in November 2022 with an investment of $10 million. In the first phase, 30 companies were selected to receive funding ranging from $50,000 to $200,000. Moving into the second phase, each selected project will receive a fixed investment of $200,000. Alongside financial support, Foresight Ventures will also provide guidance and mentorship to the participating projects. The firm will assign up to three mentors and one fund partner to each project, offering practical insights and industry knowledge. Upon the conclusion of the accelerator program, Foresight Ventures will organize a Demo Day, providing a platform for the participating startups to showcase their progress and potential to potential investors and stakeholders. The recent $10 million pledge brings Foresight Ventures’ total investment in the Web3 accelerator to $20 million. The funding is expected to drive technological advancements in areas such as zero-knowledge systems, artificial intelligence, machine learning, liquid staking derivatives, Bitcoin, and non-fungible tokens. Since its inception in 2020, Foresight Ventures has raised its VC portfolio Asset Under Management (AUM) to over $400 million.